Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the costprinciples contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Duringfiscal year 2022, grant agreement related to Assistance Listing #59.075, Shuttered Venue Operators Grant Program, was awarded. The grant periodfor this grant was March 1, 2020 - June 30, 2022. Pursuant to 2 CFR 200.502, approximately $97,000 of fiscal year 2021 expenses have been included in the Schedule for the year ended February 28, 2022.
De Minimis Rate Used: Y
Rate Explanation: Music for All has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Music for All, Inc. and Affiliate(the Organizations) under programs of the federal government for the year ended February 28, 2022. The information in this Schedule is presentedin accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Music for All, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Music for All.